All taxpayers to get tax cards: Muhith

Sun Online Desk
19th March, 2018 12:59:14

Finance Minister AMA Muhith on Sunday said the government will provide tax cards to all taxpayers for encouraging them to pay taxes properly.

"If anyone pays only one Taka income tax, he or she will also be eligible to get the tax card," he said while speaking at a pre-budget meeting with chairmen of different parliamentary standing committees at National Economic Council (NEC) auditorium at Planning Ministry in the city.

In the meeting, the chairmen of parliamentary standing committees placed a number of suggestions for consideration before finalizing the upcoming national budget for 2018-19 financial year (FY19) which includes widening the tax and Value Added Tax (VAT) net, developing the quality of education and introducing upazila level top tax payer award.

Chairman of the Standing Committee on Ministry of Forest and Environment Mohammad Hasan Mahmud proposed to increase the tax-free income ceiling for individuals to Taka 5 lakh in the next budget for FY19 for encouraging tax payers to pay tax properly.

He said the tax rate for individuals is very high, which creates a tendency to evade taxes. "If the tax rate is reduced, many will be encouraged to pay taxes," he added.

He also recommended providing incentives to the business community to increase the collection of VAT.

Standing Committee Chairman of the Ministry of Power, Energy and Mineral Resources M Tajul Islam called for providing all necessary supports to the entrepreneurs for establishing green factories.

If necessary, the government can support them by providing tax-free facilities, he added.

Standing Committee Chairman of the Ministry of Fisheries and Livestock Advocate Mir Showkat Ali Badsha called for increasing the allocation to develop fish cultivation in the coastal areas to meet the demand of fish in the country.